Senate Bill #431 (2019)

AN ACT RELATING TO LABOR AND LABOR RELATIONS -- NON-ERISA COVERED PENSION PLANS

Requires all defined pension plans not covered by ERISA having 200 or more members comply with ERISA's annual reporting provisions, excluding government plans.

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Changes since original draft

  • 2019 – S 0431 ======== LC001764 ========
  • S TATE OF RHODE IS L AND
  • IN GENERAL ASSEMBLY
  • JANUARY SESSION, A.D. 2019
  • ____________
  • A N A C T RELATING TO LABOR AND LABOR RELATIONS – NON-ERISA COVERED PENSION
  • PLANS
  • Introduced By: Senators Ruggerio, Goodwin, Ciccone, Archambault, and Conley
  • Date Introduced: February 27, 2019
  • Referred To: Senate Finance
  • (GeneralTreasurer) It is enacted by the GeneralAssembly as follows:
  • SECTION 1. Chapter 28-7.1 of the General Laws entitled "Health and Welfare Funds, Pension Plans" is hereby amended by adding thereto the following section:
  • 28-7.1-4. Defined pension plans annual reporting.
  • All defined pension plans that are not covered by the Employee Retirement Income Security Act of 1974 (ERISA) and which have two hundred (200) or more plan members shallbe required to comply with the annualreporting provisions of 29 U.S.C. § 1024(b)(3).
  • SECTION 2. This act shalltake effect upon passage. ======== LC001764 ========
  • EXPLANATION
  • BY THE LEGISLATIVE COUNCIL
  • OF
  • A N A C T RELATING TO LABOR AND LABOR RELATIONS – NON-ERISA COVERED PENSION
  • PLANS
  • ***
  • This act would require that alldefined pension plans which are not covered by the ERISA and have at least two hundred (200) members, comply with ERISA's annualreporting provisions.
  • This act would take effect upon passage. ======== LC001764 ========
  • LC001764 - Page 2of 2
  • 2019 – S 0431 SUBSTITUTE A AS AMENDED ======== LC001764/SUB A ========
  • S T A T E O F R H O D E I S L A N D
  • IN GENERAL ASSEMBLY
  • JANUARY SESSION, A.D. 2019
  • ____________
  • A N A C T
  • RELATING TO LABOR AND LABOR RELATIONS – NON-ERISA COVERED PENSION
  • PLANS
  • Introduced By: Senators Ruggerio, Goodwin, Ciccone, Archambault, and Conley
  • Date Introduced: February 27, 2019
  • Referred To: Senate Finance
  • (General Treasurer) It is enacted by the General Assembly as follows:
  • SECTION 1. Chapter 28-7.1 of the General Laws entitled "Health and Welfare Funds, Pension Plans" is hereby amended by adding thereto the following section:
  • 28-7.1-4. Defined benefit plans annual reporting.
  • (a) All defined benefit plans that are not covered by the Employee Retirement Income Security Act of 1974 (ERISA) and have two hundred (200) or more plan members shall be required to comply with the provisions of 29 U.S.C. § 1024(b)(3).
  • (b) This section shall not apply to governmental plans as defined in 29 U.S.C. § 1002(32).
  • SECTION 2. This act shall take effect upon passage. ======== LC001764/SUB A ========
  • EXPLANATION
  • BY THE LEGISLATIVE COUNCIL
  • OF
  • A N A C T
  • RELATING TO LABOR AND LABOR RELATIONS – NON-ERISA COVERED PENSION
  • PLANS
  • ***
  • This act would require that all defined pension plans, which are not covered by ERISA, excluding government plans, having two hundred (200) or more members, comply with ERISA's annual reporting provisions.
  • This act would take effect upon passage. ======== LC001764/SUB A ========

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